Broadcom has been working in recent weeks to arrange more than $50 billion in financing for a custom AI chip it is developing with OpenAI, The Wall Street Journal reported.

  • Oracle is in discussions with Apollo and Goldman Sachs about funding a large chip purchase, people familiar with the matter told the Journal.
  • SpaceX has spoken with lenders in recent days about a roughly $40 billion financing tied to Nvidia chips, The Financial Times reported on Tuesday. 
  • For years, the largest cloud companies paid for servers and chips mostly out of cash flow, but that is no longer sufficient in light of rising AI build-out costs.

Oracle, Broadcom and SpaceX are reportedly seeking tens of billions of dollars in debt to pay for artificial-intelligence chips as the cost of data-center build-outs pushes buyers beyond the public bond market.

Oracle was up about 0.3% after the close, near $143.96, after finishing the regular session down 0.8% at $143.56. Broadcom slipped about 0.2%, to roughly $375.70, after a small gain in the regular session. SpaceX edged up about 0.1% to around $167.80 after falling 2.5% during the day to $167.60.

Chip Financing In Early Talks

Broadcom has been working in recent weeks to arrange more than $50 billion in financing for a custom AI chip it is developing with OpenAI, The Wall Street Journal reported, citing people familiar with the matter. Apollo Global Management and Blackstone are among the lenders Broadcom has approached, the people said. The talks are early, and the size could change.

Separately, Oracle is in discussions with Apollo and Goldman Sachs about funding a large chip purchase, people familiar with the matter told the Journal. Meanwhile, SpaceX has spoken with lenders in recent days about a roughly $40 billion financing tied to Nvidia chips, The Financial Times reported on Tuesday.

What The Funding Would Cover

The Broadcom package could pay for several gigawatts of OpenAI chip capacity and could close before year-end, one person told the Journal. The financing would follow a partnership the two companies announced a year earlier. They said they would develop 10 gigawatts of OpenAI’s custom chips on Broadcom’s networking technology and put the systems into service from the second half of 2026 through the end of 2029.

Oracle wants its deal finished this year and is still talking to more than one possible partner, a person familiar with the matter said. The funding is meant to cover the gap between paying for the hardware and collecting the cloud revenue it is supposed to generate. It is not clear how many chips Oracle wants to finance.

The structure under discussion would have investors put money into a separate company that buys the chips and leases them to Oracle. That would let Oracle avoid borrowing the sum itself and keep its debt costs in check against larger rivals with deeper reserves.

The Financing Pivot

For years, the largest cloud companies paid for servers and chips mostly out of cash flow. That no longer covers the bill.

Spending on data centers, servers and chips by the biggest cloud and internet companies has risen sharply since the start of 2025, and for some of them it now matches or exceeds the cash the business itself brings in. They have turned to the bond market, and a separate pool of lenders, investment firms rather than banks, has grown quickly around the build-out.

How Did ORCL, AVGO And SPCX Retail Traders React?

On Stocktwits, retail sentiment around SPCX was bullish at the time of writing. Meanwhile, sentiment around AVGO was neutral, and sentiment around ORCL was bearish.

AVGO has gained 9% year-to-date, while ORCL fell 26%. 

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